How will my credit score be affected by handing in a vehicle off PCH?

marnstars

Hello. I'm after some advice and hoping that someone can help please. (sorry orginally posted this item in the loans section!)

I have a car on a 48 month personal contract hire agreement (PCH). I'm 38 months in to the contract will no defaults in payments (on this agreement I have elsewhere) and within the contract there is an option to hand in the vehicle after half of the contract is complete (with some criteria around mileage and vehicle condition). All seems good, but:

They have advised that if I hand back the vehicle, they are obliged to make a reference to this on my credit file. To quote "it won't be a black mark, but it could affect your rating"

How have I got to this predicament! Well, I'd sold my current car to pay back the settlement on the PCH. Having taken a deposit from the prospective purchaser, I ordered my new car that is being collected on Friday. Alas, the prospective purchaser of my car backed out leaving me with the options of

• Trading in my current car and funding the deficit (£3200) - not really an option!
• Handing back my current car with the news of how it could affect my credit rating. Lowest cost option, but how will it affect my credit score?
• Cancel my order for the new car and lose £846 deposit
• Keeping my current car and trading in my wife's car instead! Again, a costly option.

Arghhh! My main question is to establish how my credit rating would be affected by handing back against my current PCH agreement?

Cheers for your help.